Altcoins
Latest IOST News: Partnerships, Mainnet and More
With the third quarter of 2018 almost over, the fourth quarter brings with it lots of optimism in terms of technical developments for our favorite crypto projects as well as the market performance of the corresponding digital assets. In the case of IOSToken (IOST), lots of new developments have been eclipsed by the current bear market that has led to the total market capitalization of the crypto market falling to $200 Billion. The digital asset of IOST has not been spared by the current decline and is currently trading at $0.012 having dropped from comfortable levels of $0.017 only a few days ago.
But with the new week ahead, it is good to recapitulate on the recent IOST news and why they give us more reason to be bullish about the token as we enter the fourth quarter of 2018.
Recent IOST news and Partnerships
The IOSToken team have managed to seal a few partnerships in the past few days.
On the 14th of September, the team announced via Twitter that they were partnering with the offline tech school of Code Chrysalis which provides intensive coding boot camps for engineers. IOST will be partnering with the school to launch and offer blockchain coding courses in the near future.
On the same day, the IOST team announced that they were partnering with Mantra to form a tamper-proof charity ecosystem. The announcement would further state that:
“As a public chain project, IOST also pays attention to the impact that blockchain technology will have on charitable activities, and has been working hard to promote blockchain’s many uses for charitable organizations.
In the future, IOST will provide technical support for Mantra, and will help to make Mantra’s donation information and fund usage publicly available through an information query system in order to build a tamper-proof, trustless and transparent charity infrastructure.”
A few hours ago, the team at IOST have tweeted a new partnership with the team at Ginco. This firm is behind one of Japan’s most popular cryptocurrency wallet of the same name. IOST will be added to their digital wallet and will be co-hosting an event in Tokyo with the team at Ginco later on in the year. The full tweet making the announcement can be found below:
We are excited to announce our partnership with @ginco_app, one of Japan’s most popular cryptocurrency wallets! #IOST will soon be added to their digital wallet and we will be co-hosting an event in Tokyo with their team in the near future! pic.twitter.com/Yx3ZdkOcNA
— IOST (@IOST_Official) September 15, 2018
Technical Updates
The team at IOST also updated the community about the recent technical developments. With regards to the consensus protocol on the IOST network, the team has fixed a bug that was affecting receipts. They also added transaction deletion endpoints and designed a voting system that is yet to be reviewed. Other technical updates included upgrading the peer-to-peer network and IOST’s virtual machine. More on this can be found on their Medium.com page.
Tokyo Office And Expansion in Japan
The team has been aggressively pushing for the expansion of IOST in Japan for the last two weeks. They have officially opened an IOST Tokyo office located in the Blink Smart Office workplace.
IOST also welcomed two new team members to their Japan team. They include Makoto Ota, who will be leading Business Development in the Japanese market and Kanna Sato, who will be the Community Manager for IOST in Japan. Both new team members have experience in the startup industry in Japan and will assist in the smooth operations in the country.
In conclusion, the IOST project continues to make major strides and according to its updated roadmap. According to the same roadmap, the public Testnet will be launched in Q4 with the highly anticipated Mainnet being launched in early 2019. Look for more exciting IOST news to come.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. The author is long Bitcoin. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.
SOL Outlook
Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.
The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.
This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…
Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.
Catalysts Behind SOL’s Rally
Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.
The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.
Cited figures provided by DeFi aggregator DeFiLlama…
Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.
SOL’s Bullish Cues
Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.
In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.
Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…
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